Legal Question in Banking Law in India
Dear Sir,
(1) What is the difference between DTCP Approval Layout and Panchayat Layout Approval.
(2) Panchayat Layout approval plot is enforceable under SARFAESI ACT ( Securitisation Act). Please advise.
Asked on 9/09/11, 11:08 am
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
The DTCP Approval Layout means Director of Town and city plan approval. This is with reference of Town and city approval.This is for arears in a town or city. Panchayath approval for Layout is for the village. In either case, plots in the said layouts if mortgaged to banks can be sold for loan default even if they once happened to be classified as agricultural lands.
Answered on 9/13/11, 4:48 am
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